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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #89,621
  • Feb 21, 2011 1:21am Feb 21, 2011 1:21am
Quoting Dan Gilbert
You are absolutely correct about the levels being well defined. The 34/36 are spot on. I think you might see price break and re-test either of those levels, then you can find a tighter entry.

I personally just want to see the bar behave a bit more like how I4B's do, compared to how the daily one on E/U was completely whacked out.

Not sure what you mean . . How do I4Bs behave? Do you mean in a robust breakout, being that they are a compression type setup. . . .KaBoom!

Yeah, I like the breakout / retest of the 1.36/1.34
Indicators show the past. Price Action "Indicates" the future.
  • #89,622
  • Feb 21, 2011 1:22am Feb 21, 2011 1:22am
Quoting gladiator123
Dan,


one more personal question...

from where did u get your lines for "About me" in ur profile? u wrote it urself? its really nice....and inspirational.. thanks for that too..
Teddy Roosevelt quote.
Indicators show the past. Price Action "Indicates" the future.
  • #89,623
  • Feb 21, 2011 1:41am Feb 21, 2011 1:41am
Quoting jarroo
That was a great target to get out, Adilius . .very nice.

I don't know if you saw the same internal S/R levels within that consolidation area as show in this chart . .maybe you did . . good for you. But we know that Price likes to consolidate and it could reach the top. . .I not taking away from your decision to exit (if the reasons why that's stated above) it was a smart one.


The reason I said that it was a tough trade was because Price broke out of that consolidation area . .and we know what happens when that occurrs. The .7500...

Hi Jarroo, thanks for the analysis!! But no I just exited because I didn't like it being late friday here, and the price seemed to stall... So just exited at 1R to forget about it
  • #89,624
  • Feb 21, 2011 1:50am Feb 21, 2011 1:50am
Quoting Adilius07
Hi Jarroo, thanks for the analysis!! But no I just exited because I didn't like it being late friday here, and the price seemed to stall... So just exited at 1R to forget about it

I see. As long as you saw the levels and saw why it stalled . .that's cool.

If Price would have closed above that .7650ish level, I would have held over the weekend, regardless of R/R.

Just some thoughts.
Indicators show the past. Price Action "Indicates" the future.
  • #89,625
  • Feb 21, 2011 2:20am Feb 21, 2011 2:20am
Quoting jarroo
Teddy Roosevelt quote.
thanks jaroo...appreciate ur GK

i asked a question to dan.... i think he is offline.... can u help me with this question that i asked earlier.... thanks a lot

[quote=gladiator123;4414903]Dan,

thanks for ur reply. May I ask.....are these the only two MA's used ? Do u use any MA's on 4hr and weekly? thanks for ur reply..
  • #89,626
  • Feb 21, 2011 2:25am Feb 21, 2011 2:25am
Quoting gladiator123
Dan,

thanks for ur reply. May I ask.....are these the only two MA's used ? Do u use any MA's on 4hr and weekly? thanks for ur reply..

Yes, I use them (365/150 emas) as a confluencing tool with S/R on the Weekly, Daily, 4 Hour and Hourly TFs.
Indicators show the past. Price Action "Indicates" the future.
  • #89,627
  • Feb 21, 2011 2:29am Feb 21, 2011 2:29am
Quoting jarroo
Yes, I use them (365/150 emas) as a confluencing tool with S/R on the Weekly, Daily, 4 Hour and Hourly TFs.
thanks jarroo..... i will apply them and look for PA around these MA just like PPZ areas...thanks
  • #89,628
  • Feb 21, 2011 2:30am Feb 21, 2011 2:30am
Quoting gladiator123
thanks jarroo..... i will apply them and look for PA around these MA just like PPZ areas...thanks

No no . .they are a confluencing tool around PPZ levels.
Indicators show the past. Price Action "Indicates" the future.
  • #89,629
  • Feb 21, 2011 2:42am Feb 21, 2011 2:42am
Quoting jarroo
No no . .they are a confluencing tool around PPZ levels.
oops.... i thought we are suppose to look for PA candles around these MA and enter trade.... for eg. if there is a Pin bar on 365 EMA or 150 EMA we can enter a trade since this MA's acts as floating SR......

so what u are saying is ... we have to use it like an additional tool for confluence... like if we have a pin bar at 61.6 fib.. and other criteria's are also met then ... if 365 or 150 ema s are there its and additional advantage.... is that what u mean?

thanks for correcting me...
  • #89,630
  • Feb 21, 2011 2:44am Feb 21, 2011 2:44am
Quoting jarroo
No no . .they are a confluencing tool around PPZ levels.
Hi Jim.

Do you imagine that they're respected because they used to be used for seasonal commodities like corn, coal, heating oil and the like, and the respect has just spilled over into forex?
  • #89,631
  • Feb 21, 2011 2:51am Feb 21, 2011 2:51am
Quoting gladiator123
oops.... i thought we are suppose to look for PA candles around these MA and enter trade.... for eg. if there is a Pin bar on 365 EMA or 150 EMA we can enter a trade since this MA's acts as floating SR......

so what u are saying is ... we have to use it like an additional tool for confluence... like if we have a pin bar at 61.6 fib.. and other criteria's are also met then ... if 365 or 150 ema s are there its and additional advantage.... is that what u mean?

thanks for correcting me...
Yes, that exactly what I mean.

You can see how Price behaved around this 85.00 BRN PPZ level on this Daily Chf/Jpy. The 365 ema (black) added addtional strength or confluence to the level. The PB that I drew would be an A++ setup to me.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy21.jpg Size: 122 KB
Indicators show the past. Price Action "Indicates" the future.
  • #89,632
  • Feb 21, 2011 2:55am Feb 21, 2011 2:55am
Quoting Ifmyante
Hi Jim.

Do you imagine that they're respected because they used to be used for seasonal commodities like corn, coal, heating oil and the like, and the respect has just spilled over into forex?

That may be . .but they are long term averages and they tend to have some added strength in them.

This is a better question for Joel . . You out there buddy??
Indicators show the past. Price Action "Indicates" the future.
  • #89,633
  • Feb 21, 2011 2:58am Feb 21, 2011 2:58am
Quoting jarroo
That may be . .but they are long term averages and they tend to have some added strength in them.

This is a better question for Joel . . You out there buddy??
Thanks Jim. I don't think I've met Joel yet
  • #89,634
  • Feb 21, 2011 2:59am Feb 21, 2011 2:59am
Quoting Ifmyante
Thanks Jim. I don't think I've met Joel yet

Great guy. .great posts . .check him out . . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,635
  • Feb 21, 2011 3:09am Feb 21, 2011 3:09am
Quoting jarroo
Great guy. .great posts . .check him out . . .
Ah, yes. I don't know why my mind calls him CF.

Great posts indeed. And one of my favourite avatars of all time
  • #89,636
  • Feb 21, 2011 3:10am Feb 21, 2011 3:10am
Quoting gladiator123
oops.... i thought we are suppose to look for PA candles around these MA and enter trade.... for eg. if there is a Pin bar on 365 EMA or 150 EMA we can enter a trade since this MA's acts as floating SR......

so what u are saying is ... we have to use it like an additional tool for confluence... like if we have a pin bar at 61.6 fib.. and other criteria's are also met then ... if 365 or 150 ema s are there its and additional advantage.... is that what u mean?

thanks for correcting me...

Here's another example . . . . .

Daily BEOB off the 114.00 RN and 150 ema. The setups has little Space and some traffic but the confluence is there.
Attached Image (click to enlarge)
Click to Enlarge Name: ej21.jpg Size: 99 KB
Indicators show the past. Price Action "Indicates" the future.
  • #89,637
  • Feb 21, 2011 3:13am Feb 21, 2011 3:13am
Quoting Ifmyante
Ah, yes. I don't know why my mind calls him CF.

Great posts indeed. And one of my favourite avatars of all time

Yeah . .I'm waiting until he has a Bull on the dollar in his avatar . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #89,638
  • Feb 21, 2011 3:19am Feb 21, 2011 3:19am
hi jaroo,

thanks for the chart and explanation but sorry I have to ask one more question regarding that set up. please see the chart that I have posted. I have circled few candles in the left. Even if we take the pin bar that u have
highlighted considering those wicks that I have marked how can it be a A++ setup? And the candles have not closed above the orange line that you have in your chart. the previous candle was a pin bar which has long wick and closed below the orange line and the candle after the bar that you have highlighted also have closed below the line. When I trade I look to these things and at the end screw up somewhere. so I am sure something that i am doing is not right. I just want to know what from the chart give u confidence to hold it after considering all these points that I have said.... or what is that u think when u see those pins that i said which closed below the orange line and the wick I have circled in the left?

thanks a lot for ur advice
Quoting jarroo
Yes, that exactly what I mean.

You can see how Price behaved around this 85.00 BRN PPZ level on this Daily Chf/Jpy. The 365 ema (black) added addtional strength or confluence to the level. The PB that I drew would be an A++ setup to me.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy21.jpg Size: 121 KB
  • #89,639
  • Feb 21, 2011 3:21am Feb 21, 2011 3:21am
Quoting jarroo
Here's another example . . . . .

Daily BEOB off the 114.00 RN and 150 ema. The setups has little Space and some traffic but the confluence is there.
Actually there are two BEOBs that are confluencing . . . one with the 114.00 and the other with the 115.00 . . .
Attached Image (click to enlarge)
Click to Enlarge Name: ej21a.jpg Size: 99 KB
Indicators show the past. Price Action "Indicates" the future.
  • #89,640
  • Feb 21, 2011 3:27am Feb 21, 2011 3:27am
Quoting gladiator123
hi jaroo,

thanks for the chart and explanation but sorry I have to ask one more question regarding that set up. please see the chart that I have posted. I have circled few candles in the left. Even if we take the pin bar that u have
highlighted considering those wicks that I have marked how can it be a A++ setup? And the candles have not closed above the orange line that you have in your chart. the previous candle was a pin bar which has long wick and closed below the orange line and the candle after the bar that you have highlighted also have...
Are you talking about this PB that I drew (blue arrow)?
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy21a.jpg Size: 117 KB
Indicators show the past. Price Action "Indicates" the future.
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